Concord Medical Correlations

CCM Stock

USD 5.00 0.56 12.61%

The current 90-days correlation between Concord Medical Services and Pennant Group is 0.05 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Concord Medical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Concord Medical Services moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Concord Medical Correlation With Market

Very good diversification

The correlation between Concord Medical Services and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Concord Medical Services and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Concord Medical Services. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Concord Stock

0.71	FEMY	Femasys	Pair Corr
0.75	FIGS	Figs Inc	Pair Corr

Moving against Concord Stock

0.78	GH	Guardant Health	Pair Corr
0.56	VVOS	Vivos Therapeutics	Pair Corr
0.54	LH	Laboratory	Pair Corr
0.37	EHAB	Enhabit	Pair Corr
0.36	VEEV	Veeva Systems Class	Pair Corr
0.34	OM	Outset Medical	Pair Corr
0.31	DOCS	Doximity	Pair Corr
0.31	VREX	Varex Imaging Corp	Pair Corr
0.66	ENOV	Enovis Corp	Pair Corr
0.47	EMBC	Embecta Corp	Pair Corr
0.41	XAIR	Beyond Air	Pair Corr

Related Correlations Analysis

	PNTG	EHC	EHAB	NHC	AMS	SNDA	TOI	JYNT	ENSG
PNTG		-0.35	0.35	0.11	-0.01	0.39	0.54	0.15	0.24	PNTG
EHC	-0.35		-0.38	-0.02	0.01	-0.42	-0.51	0.26	-0.05	EHC
EHAB	0.35	-0.38		0.72	-0.32	0.59	0.16	0.43	0.05	EHAB
NHC	0.11	-0.02	0.72		-0.12	0.35	0.02	0.36	-0.15	NHC
AMS	-0.01	0.01	-0.32	-0.12		-0.01	0.33	-0.1	-0.13	AMS
SNDA	0.39	-0.42	0.59	0.35	-0.01		0.56	0.36	0.38	SNDA
TOI	0.54	-0.51	0.16	0.02	0.33	0.56		-0.09	0.22	TOI
JYNT	0.15	0.26	0.43	0.36	-0.1	0.36	-0.09		0.18	JYNT
ENSG	0.24	-0.05	0.05	-0.15	-0.13	0.38	0.22	0.18		ENSG
	PNTG	EHC	EHAB	NHC	AMS	SNDA	TOI	JYNT	ENSG

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

NHC	+ 0.72	EHAB
SNDA	+ 0.59	EHAB
TOI	+ 0.56	SNDA
TOI	+ 0.54	PNTG
JYNT	+ 0.43	EHAB
SNDA	+ 0.39	PNTG

High negative correlations

TOI	- 0.51	EHC
SNDA	- 0.42	EHC
EHAB	- 0.38	EHC
EHC	- 0.35	PNTG
AMS	- 0.32	EHAB
ENSG	- 0.15	NHC

Risk-Adjusted Indicators

There is a big difference between Concord Stock performing well and Concord Medical Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Concord Medical's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PNTG	2.19	(0.27)	0.00	(0.04)	0.00	0.00	4.19	(3.97)	13.06
EHC	0.90	0.14	0.06	0.48	0.84	(0.97)	1.76	(1.86)	9.75
EHAB	1.92	(0.23)	0.00	(0.05)	0.00	0.00	5.22	(4.56)	11.79
NHC	1.53	(0.24)	0.00	(0.01)	0.00	0.00	3.12	(3.57)	11.56
AMS	1.65	(0.16)	0.00	1.20	0.00	0.00	3.18	(2.48)	14.74
SNDA	2.41	(0.23)	0.00	(0.04)	0.00	0.00	5.59	(4.77)	12.89
TOI	4.74	(1.28)	0.00	(0.46)	0.00	0.00	8.82	(10.34)	39.32
JYNT	2.17	(0.11)	0.00	0.06	2.36	(2.67)	5.29	(4.02)	15.39
ENSG	1.06	0.03	(0.07)	(0.01)	1.63	(1.04)	2.32	(2.11)	10.08

Concord Medical Corporate Management

Xun Liu	Financial Controller	Profile
Qing Pan	Director	Profile
Matthew Callister	Chief Medical Officer	Profile
Boxun Zhang	Independent Director	Profile

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